Posts by Robb Engen
Weekend Reading: Cash Is King Edition
Fans of credit card rewards have seen a bunch of changes in the travel rewards space over the last 12 months, but not much has happened on the cash back side. That’s unfortunate because, in the battle for space in your wallet, banks and credit card issuers lost sight over what was really important to customers – how…
Read MoreWhy Investors Should Embrace Simple Solutions
I stumbled on a thread from Reddit’s Canadian personal finance community where a young investor sought feedback on his investment portfolio. He held a low cost and diversified portfolio consisting of seven ETFs inside his tax free savings account. The allocation was broken down like this: Canadian equity (ZCN) – 25% U.S. equity (VUN) –…
Read MoreA New Look At The RRSP vs. Mortgage Debate
Most debates over whether to pay down the mortgage or contribute to an RRSP boil down to one thing. If the interest rate on your mortgage is less than the expected return of the investments in your RRSP, then go with the RRSP. When rates are higher, then paying down the mortgage makes more sense.…
Read MoreNet Worth Update: 2014 Midyear Review
This year has been heavy on spending with not much focus on saving. The spending is purposeful, though, as we borrowed $35,000 on a line of credit to develop our basement, which will increase the value of our home. The interest rate on the line of credit is 3.5 percent, so using it to pay…
Read MoreWeekend Reading: Messy Aeroplan Transition Edition
Part of the new Aeroplan credit card agreement meant that some CIBC Aerogold accounts were sold to TD. Those affected by the move were to receive a letter from TD, along with a new Aeroplan credit card, prior to June 16th when their CIBC Aerogold account would be deactivated. Related: Three Rewards Credit Cards Worth…
Read MoreManaging The Gap Between Wage Growth And Inflation
The gap between wage growth and cost of living continues to be an issue as inflation reached 2.3 percent in May, led by higher gas and energy prices. The latest Stats Canada data revealed that wages grew 1.4 percent year-over-year. That means there’s a decline in real wages when you adjust for inflation. How have…
Read More5 Lessons Learned About Investing
Five years ago I opened a discount brokerage account – transferring $25,000 from my HSBC mutual fund account to TD Waterhouse – to start investing in individual stocks. Here are 5 lessons learned about investing over the last five years: A rising tide lifts all boats I’ve learned to recognize the difference between skill and…
Read MoreWater Heater Rentals: Do Ontario Residents Get Hosed?
As an Albertan who writes a column for an Ontario-based newspaper, I’m often reminded of the many differences between our two provinces. Health care premiums, HST, and land transfer taxes aren’t part of the Alberta landscape. Another difference I’ve observed is that many Ontario residents rent a water heater for their home, but in Alberta…
Read MoreWeekend Reading: Working On The CFP Edition
I’ve spent the last few months completing the first of four online courses for the CFP certification program. The four courses include retirement planning, risk management and estate planning, strategic investment planning, and income tax planning. The retirement planning course offers a comprehensive look at topics such as: government-sponsored retirement income programs employer-sponsored pension plans…
Read MoreWhy SCENE Rewards Is One Of Canada’s Hidden Gems
We don’t go to the movies too often any more because we either need to find a babysitter or else we haul the entire family to the latest kids’ flick (and there’s only so much Frozen I can take). But recently I’ve uncovered a hidden gem among rewards programs in Canada – the SCENE rewards…
Read More